Posts Tagged ‘cheap gasoline’

  • Venezuela subsidized gas

    Venezuela Has Cheap Gas But No Cars

    Mar 11, 14 • 318 Views • Demand, Supply, and Markets, Developing Economies, Financial Markets, Government, International Trade and Finance, Labor, Macroeconomic Measurement, Money and Monetary Policy, Regulation, Thinking EconomicallyNo Comments

    At the official exchange rate, Venezuelans pay 5 cents a gallon for premium gasoline while the real price is closer to one half penny a gallon. The dark purple country at the northern tip of South America (below), Venezuela has the cheapest gas in the world.